Cherokee Inc. Enters into an Exclusive Agreement for its Sideout Brand with Mikasa Sports USA
VAN NUYS, CA, April 12th, 2011 – Cherokee Inc. (NASDAQ: CHKE), a leading global brand management company, today announced that it has entered into an exclusive license agreement for its Sideout brand for volleyballs and related volleyball accessories with Mikasa Sports USA, Inc. Detailed terms of the multi-year agreement were not disclosed. Founded in Hiroshima, Japan, Mikasa Sports has been creating and perfecting volleyballs for over 89 years. In 1973, Mikasa arrived in California, setting up headquarters in order to better satisfy the demand of North American athletes and to build upon its strong reputation as a leader in the game of volleyball. With a deep understanding of the passion and inspiration it takes to be an athlete, no matter what level, Mikasa puts the best technology available, into every ball it makes. Today, Mikasa has made great inroads in both professional and Olympic sports but never forgets the place where all sports begin: the playground.
Doug Flood, General Manager, Mikasa Sports USA said, "We are excited to collaborate with The Cherokee Group to further develop and enhance their strategy for its Sideout brand. Sideout is arguable the most well known brand name in volleyball and we believe that there is tremendous opportunity to capitalize on its almost 30 years of brand equity. We look forward to having product in the market within the next twelve months."
Howard Siegel, President and COO said, "With its roots in beach volleyball, the Sideout brand has a long and marketable heritage. We are extremely pleased to have the opportunity to partner with Mikasa Sports to further capitalize on Sideout's authenticity in the sport of volleyball. Over the next several months, we will be working hand-in-hand with Mikasa on many initiatives including grass-roots programs at various local levels. We look forward to much success together."
About Cherokee Inc.
Cherokee Inc., is a global marketer and manager of a portfolio of
LIFESTYLE BRANDS it owns and represents in multiple consumer product
categories and sectors around the world. The Company has license
agreements with premier retailers and manufacturers covering over 30
countries around the world including Target Stores (U.S.), Tesco (U.K.,
Ireland and certain Central European countries), Zellers (Canada),
RT-Mart (Peoples Republic of China), Pick 'n Pay (South Africa),
Falabella (Chile, Peru and Colombia), Arvind Mills (India and certain
Middle Eastern countries), Shufersal LTD. (Israel), Comercial Mexicana
(Mexico), Eroski (Spain), Nishimatsuya (Japan), Magnit Stores (Russian
Federation) and the TJX Companies (U.S., Canada and Europe).
Cherokee Inc. (NASDAQ: CHKE), a leading global brand management company, today announced that it has entered into an exclusive license agreement for its Sideout brand for volleyballs and related volleyball accessories with Mikasa Sports USA, Inc.